Base Salaries and Annual Incentive Plan Targets for Executive Officers (2005)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the new base salaries and annual incentive plan targets for certain executive officers, effective April 1, 2005. It lists the names, positions, updated base salaries, percentage increases from 2004, and the target percentages for annual incentives based on salary. The agreement sets compensation terms for W. Matt Ralls, James L. McCulloch, Marion M. Woolie, and Roger B. Hunt, specifying their pay and bonus targets for the year.

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EX-10.3 4 dex103.htm BASE SALARIES AND ANNUAL INCENTIVE PLAN Base Salaries and Annual Incentive Plan

EXHIBIT 10.3

 

BASE SALARIES AND ANNUAL INCENTIVE PLAN TARGETS

FOR CERTAIN EXECUTIVE OFFICERS

 

Executive Officer

    New Base Salary*
    Percentage Increase from 2004
    

2005 Annual Incentive

Plan Target Percentage**

  

W. Matt Ralls
Senior Vice President
and Chief Financial
Officer

    $ 420,000    5.0 %   65 %

James L. McCulloch
Senior Vice President
and General Counsel

    $ 340,000    4.6 %   65 %

Marion M. Woolie
Senior Vice President,
Operations

    $ 335,000    4.7 %   65 %

Roger B. Hunt
Senior Vice President,
Marketing

    $ 315,000    5.0 %   60 %
* These base salaries do not go into effect until April 1, 2005.
** Expressed as a percentage of annual base salary.